39 Self-Made Billionaires Aged Forty Or Under on Planet

39 SELF-MADE BILLIONAIRES AGED FORTY OR UNDER ON PLANET FASTEST TO A BILLION WAS 3 YEARS: SNAPCHAT FOUNDERS AND CHINA TAXI-HAILING APP FOUNDER CHENG WEI. FACEBOOK BIGGEST WEALTH CREATOR FOR FORTY AND UNDERS, LED BY MARK ZUCKERBERG WITH US$47BN AND 4 OTHERS USA AND CHINA LEAD WITH 17 AND 13 BILLIONAIRES, FOLLOWED BY JAPAN, INDIA AND AUSTRALIA SAN FRANCISCO IS THE CITY OF CHOICE WITH 8, FOLLOWED BY BEIJING AND SHANGHAI WITH 6 AND 4. BANGALORE MAKES TOP 5 WITH 2 BILLIONAIRES TECH MAIN SOURCE OF WEALTH FOR 28, FOLLOWED BY INVESTMENTS 4 HARVARD AND STANFORD LEAD WITH 5 AND 3 BILLIONAIRES LEADING AUTHORITY ON CHINA AND INDIA’S WEALTHY RELEASES HURUN GLOBAL RICH LIST – FORTY AND UNDER SELF-MADE BILLIONAIRES 2016

(28 February 2016, Beijing, China) Hurun Report today released the Hurun Global Rich List - Forty and Under Self-Made Billionaires 2016, a ranking of the self-made US dollar billionaires forty years and under currently found in the world. Wealth calculations are a snapshot of 15 January 2016. This is the first year of the ranking and is a sublist of the Hurun Global Rich List, released on 24 February. The Hurun Forty and Under Self-Made Billionaires ranked 39 billionaires, made up of 34 men, 2 women and 3 husband and wife teams, from 7 countries. The average age was 35. Of the 16 new faces from the Hurun Global Rich List, 12 were from China. 18 saw their wealth increase and 5 saw their wealth decrease. Total wealth amounted to US$132bn, the equivalent to the GDP of Hungary. Where they live. By country, the USA and China are the dominant countries with 17 and 13 billionaires, followed by Japan, India and Australia. The Bay Area dominates with 13, but when broken down by city, it is San Francisco with 8, followed by Beijing and Shanghai with 6 and 4. By industry. Tech was the overwhelming favourite source of wealth for 28 of the 39. Others included Investments with 4 and Manufacturing with 2. By school. Harvard and Stanford led the way with 5 and 3 alumni, followed by UCSD, Sichuan Uni, Zhejiang Uni and the Indian Institute of Technology with two each. 21 of the 39 went to well-known universities.

1 of 9 Immigrant billionaires. 5 of the 17 living in the USA were born outside of the USA. Jan Koum was born in Ukraine, Eduardo Saverin in Brazil, Garret Camp in Canada and brothers John and Patrick Collison in Ireland.

Rupert Hoogewerf, Chairman and Chief Researcher of Hurun Report, said, “If they can make this much before they are even forty, the mind boggles to think what they could do in their lifetime. Remember Bill Gates made his first billion by the age of 31, and has since gone on to create US$100bn in the next thirty years, 20% of which he has donated.”

Table: Top 10 Hurun Global Rich List – Forty and Under Self-Made Billionaires 2016

Age Net Years Country Main Ag at time Name Worth to First of Company e of First US$Bn Billion Residence Billion Mark 47 1 Zuckerberg Facebook 31 23 4 USA Dustin 10 2 Moskovitz Facebook 31 26 5 USA 3 Jan Koum 7.5 WhatsApp 39 37 5 USA Eduardo 4 Saverin 5.6 Facebook 33 28 5 Singapore Travis Uber 5 Kalanick 5.5 Technologies 39 38 6 USA Uber 5 Garrett Camp 5.5 Technologies 37 36 6 USA Elizabeth 7 Holmes 4.3 Theranos 32 30 11 USA 8 Sean Parker 3.8 Facebook 36 31 5 USA 9 Joe Gebbia 3.6 AirBnb 34 33 7 USA Nathan 9 Blecharczyk 3.6 AirBnb 32 31 7 USA Source: Hurun Research Institute 2016

The Hurun Forty and Under Billionaires 2016 is dominated by 5 Facebook shareholders, led by Mark Zuckerberg together with Dustin Moskovitz, Jan Koum (originally of WhatsApp, which was bought by Facebook), Singapore-based Eduardo Saverin and Sean Parker. The Top 10 are all from US-based companies, led by Facebook, WhatsApp, Uber, AirBnb and Theranos. Elizabeth Holmes of blood-testing Theranos is the only women in the Top 10. San Francisco-based Airbnb founders Brian Chesky and Joe Gebbia took 6 years to make their first billion. In December 2015, Airbnb raised US$1.5bn, valuing the business at US$25bn.

2 of 9 Where they live. By country, the USA and China are the dominant countries with 17 and 13 billionaires, followed by Japan, India and Australia. The Bay Area dominates with 13, but when broken down by city, it is San Francisco with 8, followed by Beijing and Shanghai with 6 and 4.

Table: Self-made Billionaires by Country and City

Number Country Number of City of of of Billionaires Residence Billionair Residence es 1 USA 17 1 San Francisco 8 2 China 13 2 Beijing 6 3 Japan 3 3 Shanghai 4 4 Australia 2 4 Sydney 2 4 India 2 4 Bangalore 2 6 Russia 1 4 New York 2 6 Singapore 1 4 Palo Alto 2 4 Venice, CA 2 4 Tokyo 2 4 Hangzhou 2 11 Woodside 1 11 Chiba 1 11 Moscow 1 11 Singapore 1 11 Mountain View 1 11 San Jose 1 11 Shenzhen 1 Source: Hurun Research Institute 2016

Fastest to a Billion The Hurun Forty and Under Billionaires 2016 took 8 years on average to make their first billion, much faster than the 25 years for the billionaires from the Hurun Global Rich List. The fastest Under Forty on the planet to make billionaire status took only three years from the year of start-up: Snapchat co-founders Evan Spiegel and Bobby Murphy, and Cheng Wei of China taxi-hailing App Didi.

Table: Fastest to a Billion

3 of 9 Years to First Billion Name Company

3 Bobby Murphy Snapchat 3 Evan Spiegel Snapchat 3 Cheng Wei Didi 4 Mark Zuckerberg Facebook 4 Li Weiwei 37Games 5 Jan Koum WhatsApp 5 Lin Qi Youzu 6 Travis Kalanick Uber Technologies 6 Garrett Camp Uber Technologies 6 Jack Dorsey Twitter 6 Naruatsu Baba Colopl 6 Yoshikazu Tanaka Gree International 6 Patrick Collison Stripes 6 John Collison Stripes 7 Dustin Moskovitz Facebook 7 Eduardo Saverin Facebook 7 Sean Parker Facebook 7 Joe Gebbia AirBnb 7 Nathan Blecharczyk AirBnb 7 Zhou Yahui & Li Qiong Kunlun Tech 7 Yusaku Maezawa Start Today 7 Wang Yue Kingnet Source: Hurun Research Institute 2016

Beijing-based Cheng Wei of Didi came to the fore after the merger of China’s two leading taxi-hailing platforms. Didi is now taking the fight to Uber, which is making China one of its key battlegrounds. Snapchat co-founders Evan Spiegel and Bobby Murphy became billionaires only three years after starting up Snapchat in 2011, In March 2015 Chinese e-commerce giant Alibaba invested US$200m in a deal that valued Snapchat at US$15bn. Mark Zuckerberg was a billionaire aged 23, four years after starting up. The other Facebook co-founders became billionaires at the time of the IPO.

Youngest to Make First Billion. Zuckerberg and Spiegel made their first billion, aged only 23. Bill Gates was 31 when he made his first billion. Table: Youngest Age to Make First Billion

Age at First Name Main Company Billion 23 Mark Zuckerberg Facebook

4 of 9 23 Evan Spiegel Snapchat 24 Bobby Murphy Snapchat 26 Dustin Moskovitz Facebook 26 John Collison Stripes 27 Patrick Collison Stripes 28 Eduardo Saverin Facebook 30 Elizabeth Holmes Theranos 31 Sean Parker Facebook 31 Nathan Blecharczyk AirBnb 32 Binny Bansal Flipkart 32 Cheng Wei Didi 32 Wang Yue Kingnet 33 Joe Gebbia AirBnb 33 Lin Qi Youzu 33 Sachin Bansal Flipkart 33 He Zhitao Liaison Interactive 33 Yoshikazu Tanaka Gree International 34 Mike Cannon-Brookes Atlassian Corp 34 Scott Farquhar Atlassian Corp 34 Robert Pera Ubiquity Networks 35 Wang Tao DJI-Innovations 35 Yusaku Maezawa Start Today 35 Jack Dorsey Twitter 35 Maxim Nogotkov Svyaznoy Retail 35 Naruatsu Baba Colopl 35 Zhang Bangxin TAL Education Source: Hurun Research Institute 2016

By industry. Tech was the overwhelming favourite source of wealth for 28 of the 39. Others included Investments with 4 and Manufacturing with 2.

Industry Number of Billionaires Richest Individual

1 Tech 28 Mark Zuckerberg 2 Investments 4 Wu Gang 3 Manufacturing 2 Frank Wang Tao 4 Education 1 Zhang Bangxin 4 Entertainment 1 Huang Youlong, Zhao Wei 4 Express delivery 1 Chen Xiaoying 4 Healthcare 1 Elizabeth Holmes 4 Retail 1 Maxim Nogotkov Source: Hurun Research Institute 2016

By School Harvard and Stanford lead the way. Of the 39, other well-known universities and schools included MIT, UCLA and NYU in the USA, and Tsinghua, HKUST, Zhongshan and Zhejiang Uni in China.

5 of 9 Number of Alumni School Billionaires Mark Zuckerberg, Dustin Moskovitz, Eduardo 1 Harvard 5 Saverin, Nathan Blecharczyk, John Collison Elizabeth Holmes, Bobby Murphy, Evan 2 Stanford 3 Spiegel 3 Sichuan University 2 Zhang Bangxin, Li Weiwei 3 Zhejiang University 2 Wang Qicheng, Wu Yan Indian Institute of 3 Technology 2 Sachin Bansal, Binny Bansal University California, 3 San Diego 2 Nicholas Woodman, Robert Pera Source: Hurun Research Institute 2016

People of Interest For Irish-born Stripes founders brothers John and Patrick Collison, it took 6 years to become billionaires. They founded Stripes in 2010. San Francisco-based Jack Dorsey of Twitter took 6 years from start up to become a billionaire. It took Indian start-up Flipkart founders 8 years to become billionaires. Bangalore- based Sachin Bansal and Binny Bansal founded Flipkart in 2007, an online market place with more than 20 million products today. Shenzhen-based ‘Drone King’ Wang Tao founded DJI-Innovations a decade ago, and has become the pin-up boy for China’s drive to lead in the Fourth Industrial Revolution. Beijing-based Zhou Yahui founded mobile games Kunlun Tech in 2008. Since its Shenzhen listing early last year, its share price has shot up, at one point giving it a market cap of US$10bn, although it has since dropped to US$6bn. Zhou and wife Li Qiong own just over half the company. Zhou is the richest Chinese under 40. Possibly the biggest star on the list is Beijing-based Chinese actress Vicki Zhao Wei, and husband Huang Youlong. Their wealth stems from a just under 10% stake in HK- listed Alibaba Pictures in December 2014 and an investment group, both with good friend Jack Ma of Alibaba. Beijing-based Wu Gang, 39, and Huang Xiaojie, 38, make the list for the first time after seeing their stake in venture capital giant JD Capital shoot up to become the largest stock on China’s New Third Board following their listing in 2014. JD Capital Husband and wife team Jack Wang Qicheng, 36, and Wu Yan, 35, of Hangzhou- based Hakim started out with intelligent building engineering, and have since expanded to investments ranging from internet finance, media to healthcare. When they went public in 2012, they were the first head of a listed company in China to be controlled by a person born in the 1980s.

6 of 9 Shanghai-based ‘Express Delivery Queen’ Chen Xiaoying co-founded STO Express with her late husband and her brother in 1993. STO Express is today one of China’s largest express delivery companies, with 200,000 employees, and has just won approval for a listing. Shanghai-based Li Weiwei co-founded mobile games operator 37Games, which he folded into a Shenzhen-listed company in 2014. Shanghai-based Lin Qi of mobile game Youzu took 5 years to become a billionaire. Founded in 2009, Youzu was listed in Shenzhen in 2014. Beijing-based Zhang Bangxin of TAL Education is the only education provider on the list, doing after-school tutoring programs for primary and secondary school students.

7 of 9 Hurun Global Rich List - Forty and Under Self-Made Billionaires 2016

Net % Age Years

Name Worth chang Main Company Ag at First to First Residence US$Bn e e Billion Billion Mark 47 1 Zuckerberg 7% Facebook 31 23 4 USA Dustin 10 2 Moskovitz -23% Facebook 31 26 7 USA 3 Jan Koum 7.5 -25% WhatsApp 39 37 5 USA Eduardo 4 Saverin 5.6 50% Facebook 33 28 7 Singapore 5 Garrett Camp 5.5 323% Uber Technologies 37 36 6 USA Travis 5 Kalanick 5.5 323% Uber Technologies 39 38 6 USA 8 Sean Parker 3.8 34% Facebook 36 31 7 USA Nathan 9 Blecharczyk 3.6 140% AirBnb 32 31 7 USA 9 Joe Gebbia 3.6 140% AirBnb 34 33 7 USA 12 Wang Tao 3.4 New DJI-Innovations 36 35 9 China 13 Wu Gang 2.7 New JD Capital 39 38 8 China Chase Tiger Global 14 Coleman, III 2.2 10% Management 40 36 15 USA Mike Cannon- 16 Brookes 1.9 57% Atlassian Corp 35 34 13 Australia Scott 16 Farquhar 1.9 57% Atlassian Corp 35 34 13 Australia Yusaku 16 Maezawa 1.9 45% Start Today 40 35 7 Japan 19 Huang Xiaojie 1.8 New JD Capital 38 37 8 China 19 Evan Spiegel 1.8 17% Snapchat 25 23 3 USA Bobby 19 Murphy 1.8 17% Snapchat 26 24 3 USA 22 Jack Dorsey 1.7 51% Twitter 39 35 6 USA 22 Robert Pera 1.7 6% Ubiquity Networks 37 34 8 USA 24 Lin Qi 1.5 New Youzu 35 33 5 China 25 Binny Bansal 1.4 New Flipkart 33 32 8 india 25 Sachin Bansal 1.4 New Flipkart 34 33 8 India Maxim 25 Nogotkov 1.4 10% Svyaznoy Retail 39 35 10 Russia Naruatsu 28 Baba 1.3 -32% Colopl 37 35 6 Japan Nicholas 28 Woodman 1.3 -34% GoPro 40 37 11 USA Zhang 28 Bangxin 1.3 New TAL Education 36 35 12 China 31 He Zhitao 1.2 New Liaison Interactive 34 33 13 China 33 Li Weiwei 1.1 New 37Games 39 38 4 China Yoshikazu 33 Tanaka 1.1 -27% Gree International 39 33 6 Japan 35 Cheng Wei 1.0 New Didi 33 32 3 China 35 Wang Yue 1.0 New Kingnet 33 32 7 China 35 John Collison 1.0 New Stripes 26 26 6 USA Patrick USA 35 Collison 1.0 New Stripes 27 27 6 Source: Hurun Global Rich List 2016

8 of 9 About Hurun Report Inc. Nobody Knows China’s Rich Better! Established as a research unit in 1999 by British accountant Rupert Hoogewerf, Hurun Report Inc. has grown into a leading media and research house based in Shanghai, China, best-known for its rankings of the richest people in China, India and the rest of the world. Hurun Report Inc. has four divisions: Hurun Report Media, a stable of digital media and four magazines; Hurun Research Institute; Hurun Conferences, an active events division targeting entrepreneurs and high net worth individuals; and Hurun Investments, a US$20m early stage venture capital fund with investments into tech, media, retail and education. . For further information, see www.hurun.net

For media inquiries, please contact: Hurun Report Porsha Pan Tel: +86-21-50105808*601 Mobile: +86-139 1838 7446 Email: [email protected]

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